Dyson Austen have just released their 3rd quarter survey for the top 10 residential sales in Sydney. The findings make comparables to the All Ords and Dow Jones, whilst we don't question the sales; we do the findings of the comparisons. The paper points to 42% growth, and compared to the All Ords and Dow Jones growth over the same period. The indexes are certainly about growth, the 42% however, is about the increase in dollar value of the top 10, on this basis the numbers are very misleading (it would have been better to leave the comparables to the indexes out altogether).
The quantum value is 42% higher on the previous quarter but this isn't growth - take out the record sales price of Andrew Banks home for $52 million and the numbers would have been in line with quarter 2, 2010. What would have been interesting; is to see how the m2 rates for the sales from Q2 to Q3 compared.
One thing we do note from the findings, is that when interest rates are at there peak, or consumer confidence is deteriorating or at a low, and the bourse is volatile; this is when the highest $ volume of Super Prime transactions take place. This movement of cash to property in these times is a safe place for cash to be, with tremendous tax advantages when the property is one day sold (as super prime property resales show), phenomenal tax free gains can be realised over time and is proof that the rarer and item is, the more it is prized...Sydney waterfronts are both rare and prized!
To see the full report click here

News & Media: Industry, Market News & Comment
A good friend of mine, former interest rate trader and now Mortgage Adviser, is probably the smartest bloke I know when it comes to financial translation - why...click here to read our article at Property Speaking
For all
of us, a new year holds a hope for a more healthy and prosperous year
than the one we left behind. We plan and give thought to the year
ahead and the year we wish to have - openly, or privately; we list our
hopes and dreams for the future, for ourselves and our families...please Rose & Jones Property Speaking to read more
BUYERS agents are emerging as key players in the Australian property market according to a survey conducted by a leading industry body. The survey conducted by the Real Estate Buyers Agents Association of Australia (REBAA) has shown that the collective buying power of its members accounted for more than $800 million of residential real estate purchases across the country last financial year. Property Speaking
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Our October market report was distributed last week in advance of the RBA announcement. Unfortunately in it, we picked that interest rates would rise on Tuesday, this is where we are in the cycle - interest rates ticking up! Like all cycles, they will also tick down over time. Why is this unfortunate - because I imagine this is what you want to hear...Property Speaking: Interest rates have gone up, so what do you do?
